The Brazilian agribusiness sector has had another positive year. The agribusiness surplus grew to USD 38.6 billion from the USD 29.2 billion recorded from January to September 2021. The 2% drop in volume was offset by price, which rose 37%% from January to September. The share of agribusiness in Brazil’s total exports is 23%. Brazilian agribusiness as a whole brought USD 122.07 billion to Brazil’s economy from January to September, a 30% increase over 2021. The output of soybeans, soybean meal, soy oil, corn, and wheat totaled 116.8 million tonnes, up from 105.8 million tonnes in the first nine months of last year. Soybeans saw a 10% drop in export volume and had China as their primary destination. Indonesia was the largest buyer of soybean meal, and Iran was the largest buyer of corn, doubling exports. India was the leading importer of Brazilian wheat until September of this year.
Source: Valor Econômico/Datamar News